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ADB to help boost energy efficiency

The Asian Development Bank (ADB) will boost investment in end-user energy efficiency to help Asia and the Pacific tackle surging power demand and growing environmental threats from greenhouse gas emissions, according to new study of the bank.

A new ADB study, “Same Energy, More Power: Accelerating Energy Efficiency in Asia,” highlights the booming demand for power in developing Asia.

The region’s share of primary global energy consumption is set to rise from 34 per cent in 2010 to as much as 56pc in 2035.

By then, most Asian countries would produce less than half of the energy they need, forcing substantial fuel imports.

Using energy more efficiently reduces the need to build power plants and lowers imported fuel bills, potentially freeing up government funds for spending elsewhere.

This spending could include provision of electricity to the estimated 628 million people in the region who currently have no supply.

The report notes that energy efficiency investments equivalent to 1pc – 4pc of energy sector spending could meet as much as 25pc of the projected increase in primary energy consumption in developing Asia by 2030.

ADB has been expanding investment in clean energy, including in renewable energy and energy efficiency, providing $2.3 billion in financing in 2012. Last year, ADB invested more than $970 million in energy efficiency projects, with the majority of projects focused on demand-side energy efficiency, including households and manufacturing plants.

Increased investment in energy efficiency would help make Asia’s energy sector more sustainable, affordable, and reliable